Getzler Henrich & Associates, the Hilco Global turnaround and restructuring practice, is proud to have been financial advisor to Presperse Corporation, a subsidiary of Sumitomo Corporation of Americas (SCOA), in its successful restructuring and the consensual resolution of current and future talc injury lawsuits, in what is believed to be the first confirmed talc 524(g) plan of reorganization.  Presperse’s plan was confirmed by Judge Michael B. Kaplan of the U.S. Bankruptcy Court for the District of New Jersey and affirmed by Judge Robert Kirsch of the U.S. District Court for the District of New Jersey within a year after the petition was filed.  The plan received unanimous support from the talc plaintiffs that voted on the plan.

During the course of the restructuring process Getzler Henrich worked closely with numerous professionals to achieve this successful outcome, including Presperse’s advisors – Duane Morris LLP, Kroll, and Covington & Burling LLP; SCOA and its advisors – Lowenstein Sandler LLP, Skadden Arps, Slate, Meagher & Flom LLP and David Fish; and the creditor professionals – Robinson+Cole, FCR Heather Barlow, Young Conaway Stargatt & Taylor, LLP, and Ruggeri Parks Weinberg LLP.

Hilco Global professionals Mark Podgainy, Senior Managing Director, and Charvi Gupta, Senior Director, advised Presperse Corporation.